Menu
16/01/2009
Good News For Homeowners, And Maybe Even Economy
Good news for homeowners today, as €82 is expected to fall from average mortgage payments as interest rates take another fall.
The key policy rate has been cut to 2%, and reduced monthly repayments on a €300,000 mortgage by €82.
In some other good news, the Taoiseach Brian Cowen has given a surprisingly upbeat forecast, predicting the slump in house prices could come to a halt this year.
A report by the Irish Auctioneers and Valuers Institute yesterday however found that new house prices in Dublin fell by 15% in 2008, totalling a drop of 25% since their peak in 2006.
But after so many gloomy reports recently, Mr Cowen's bright outlook was cheered other economists including the author of the Daft.ie property report, Ronan Lyons, who said: "The Taoiseach is right in that things could turn around with low interest rates and all the new stimulus packages. Then there may well be a bottoming out of the market in some areas. It's not groundless."
In a report released by Mr Lyons yesterday, he said: " with good management, we can look ahead and spot elements of a brighter future - just look at the cost of petrol, mortgages, food or clothing now compared to a year ago. Ultimately, with the resolve to put right what needs to be fixed, and with a far better starting point than we had in the mid-1980s, we have to be confident about our prospects for the future."
(DW/BMC)
The key policy rate has been cut to 2%, and reduced monthly repayments on a €300,000 mortgage by €82.
In some other good news, the Taoiseach Brian Cowen has given a surprisingly upbeat forecast, predicting the slump in house prices could come to a halt this year.
A report by the Irish Auctioneers and Valuers Institute yesterday however found that new house prices in Dublin fell by 15% in 2008, totalling a drop of 25% since their peak in 2006.
But after so many gloomy reports recently, Mr Cowen's bright outlook was cheered other economists including the author of the Daft.ie property report, Ronan Lyons, who said: "The Taoiseach is right in that things could turn around with low interest rates and all the new stimulus packages. Then there may well be a bottoming out of the market in some areas. It's not groundless."
In a report released by Mr Lyons yesterday, he said: " with good management, we can look ahead and spot elements of a brighter future - just look at the cost of petrol, mortgages, food or clothing now compared to a year ago. Ultimately, with the resolve to put right what needs to be fixed, and with a far better starting point than we had in the mid-1980s, we have to be confident about our prospects for the future."
(DW/BMC)
Related Irish News Stories
Click here for the latest headlines.
15 February 2016
FF Launch 'Extensive Action Plan' For Mortgage Holders
Action is required to boost mortgage holders rights Fianna Fáil has said as it announces its "action plan to support families in meeting their monthly mortgage payment".
FF Launch 'Extensive Action Plan' For Mortgage Holders
Action is required to boost mortgage holders rights Fianna Fáil has said as it announces its "action plan to support families in meeting their monthly mortgage payment".
30 April 2015
Sinn Féin Calls On The Government To 'Stand Up To Banks'
The Taoiseach Enda Kenny has been criticised by Sinn Féin leader Gerry Adams over his position on the banks refusal to cut variable mortgage rates for struggling homeowners. Mr Adams said that Mr Kenny's response was "not good enough" and that the government needs to "move beyond the rhetoric and force the banks to reduce the interest rates".
Sinn Féin Calls On The Government To 'Stand Up To Banks'
The Taoiseach Enda Kenny has been criticised by Sinn Féin leader Gerry Adams over his position on the banks refusal to cut variable mortgage rates for struggling homeowners. Mr Adams said that Mr Kenny's response was "not good enough" and that the government needs to "move beyond the rhetoric and force the banks to reduce the interest rates".
01 February 2010
Minister To Aid Struggling Homeowners
Minister for Communications Eamon Ryan has announced the Government is planing to help homeowners struggling with mortgage payments. Minister Ryan said yesterday the Government was considering a range of measures to assist homeowners struggling to pay their mortgages after a leading bank announced it may be increasing its mortgage rates.
Minister To Aid Struggling Homeowners
Minister for Communications Eamon Ryan has announced the Government is planing to help homeowners struggling with mortgage payments. Minister Ryan said yesterday the Government was considering a range of measures to assist homeowners struggling to pay their mortgages after a leading bank announced it may be increasing its mortgage rates.
23 October 2019
Novartis To Close Cork Plant With Loss Of 320 Jobs
Pharmaceutical manufacturer Novartis has announced that it will close of its production facility in Ringaskiddy, Co Cork, with the loss of some 320 jobs.
Novartis To Close Cork Plant With Loss Of 320 Jobs
Pharmaceutical manufacturer Novartis has announced that it will close of its production facility in Ringaskiddy, Co Cork, with the loss of some 320 jobs.
17 January 2012
Taoiseach Offers Condolences For Aengus Fanning
The Taoiseach has expressed his sadness on learning of the death of Aengus Fanning, Editor of the Sunday Independent newspaper. Speaking on Tuesday, Enda Kenny said described Aengus as a charismatic and significant media figure who took a very hands on approach to his job as Editor of the Sunday Independent.
Taoiseach Offers Condolences For Aengus Fanning
The Taoiseach has expressed his sadness on learning of the death of Aengus Fanning, Editor of the Sunday Independent newspaper. Speaking on Tuesday, Enda Kenny said described Aengus as a charismatic and significant media figure who took a very hands on approach to his job as Editor of the Sunday Independent.
-
Ireland WeatherToday:Very windy with persistent and occasionally heavy rain at first, becoming drier with the wind easing towards midday. Mainly dry with bright spells increasing during the afternoon. Milder than of late. Maximum temperature 14 °C.Tonight:Cloudy with clear spells, mainly dry evening becoming windy with rain at times from late evening. Turning drier with clear spells towards morning. Milder than of late. Minimum temperature 2 °C.
